Pinnacle Holdings LLC Invests $863,000 in First Northwest Bancorp $FNWB

Pinnacle Holdings LLC acquired a new position in First Northwest Bancorp (NASDAQ:FNWB) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 79,872 shares of the financial services provider’s stock, valued at approximately $863,000. Pinnacle Holdings LLC owned approximately 0.84% of First Northwest Bancorp at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Empowered Funds LLC raised its stake in First Northwest Bancorp by 9.6% during the 4th quarter. Empowered Funds LLC now owns 20,971 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 1,841 shares in the last quarter. Jane Street Group LLC bought a new position in shares of First Northwest Bancorp in the fourth quarter worth $199,000. Bridgeway Capital Management LLC grew its stake in shares of First Northwest Bancorp by 13.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 44,608 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 5,441 shares in the last quarter. Arcus Capital Partners LLC increased its holdings in shares of First Northwest Bancorp by 115.5% during the first quarter. Arcus Capital Partners LLC now owns 56,987 shares of the financial services provider’s stock valued at $495,000 after purchasing an additional 30,543 shares during the period. Finally, BlackRock Inc. acquired a new position in shares of First Northwest Bancorp during the second quarter valued at $1,394,000. 66.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on FNWB. Weiss Ratings raised shares of First Northwest Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Wall Street Zen raised shares of First Northwest Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Piper Sandler upped their price target on shares of First Northwest Bancorp from $13.50 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.00.

First Northwest Bancorp Price Performance

Shares of FNWB stock opened at $11.09 on Monday. First Northwest Bancorp has a 1 year low of $6.90 and a 1 year high of $12.52. The stock has a market cap of $105.36 million, a PE ratio of 69.32 and a beta of 0.63. The business’s fifty day moving average is $11.18 and its 200-day moving average is $10.21. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.04 and a current ratio of 1.04.

First Northwest Bancorp (NASDAQ:FNWB) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $16.18 million during the quarter, compared to analyst estimates of $16.95 million. First Northwest Bancorp had a return on equity of 0.96% and a net margin of 1.32%. Equities analysts expect that First Northwest Bancorp will post 0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Northwest Bancorp news, Director Dana D. Behar sold 25,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $11.51, for a total value of $287,750.00. Following the completion of the sale, the director directly owned 115,219 shares of the company’s stock, valued at approximately $1,326,170.69. This represents a 17.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.14% of the company’s stock.

About First Northwest Bancorp

First Northwest Bancorp is a bank holding company headquartered in Mountlake Terrace, Washington. Through its wholly owned subsidiary, First Northwest Bank, the company delivers a full spectrum of community banking services to individuals, families, and small to mid-sized businesses. Its operations are rooted in local decision-making and personalized client relationships, reflecting a community-oriented banking model.

On the retail side, First Northwest Bank offers a range of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.